BANKING ANALYTICS

Ranking of the Azerbaijani banking sector (ranking includes the information component of the banking sector, the main events of the world economy, the analytical review of the main indices of the banks which are being ranked)

Uzbekistan to purchase Mercedes-Benz buses

In 2013, Uzbekistan will purchase another 100 Mercedes-Benz buses for Tashkent for a total of 14 million Euros, the Toshshahartransxizmat Association (Tashgortransservis) reported.

According to the report, the purchase of buses was approved by a decree of the Cabinet of Ministers of Uzbekistan 'On measures to further update the fleet of buses of the city of Tashkent'.

A sales contract for the purchase of 100 urban Mercedes-Benz Conecto Low Floor buses to the Euro-3 standard as well as parts and diagnostic devices, was concluded between the Toshshahartransxizmat Association and the EvoBus GmbH Company (bus division of the Daimler-Chrysler concern, Germany) in 2013.

Funding for the full value of the contract is provided through a loan from the Fund for Reconstruction and Development of Uzbekistan (FRDU).

The agreement provides for the supply in the first instance of 30 buses by September 1, another 20 by October and the final 50 by November.

As previously reported, Uzbekistan purchased 100 new Mercedes-Benz Conecto Low Floor buses for a total of $18.9 million through a FRDU loan in 2012.

The first Mercedes-Benz Conecto Low Floor buses of the Euro-3 standard appeared in Tashkent in 2008.

Currently 1000 Mercedes-Benz low floor buses operate in Tashkent. The purchase of buses for a total of 120 million Euros is being carried out through a loan from German banks guaranteed by the government of Uzbekistan. All have a length of over 12 metres and load capacity of more than eight tons and are of the Mercedes-Benz Conecto model.

As previously reported, in May 2010, Uzavtosanoat and Mercedes-Benz Buses Central Asia, a wholly-owned subsidiary of Daimler AG, signed an agreement to establish a joint venture for the production of buses based on the Mercedes-Benz chassis in the form of a limited liability company with a registered capital of $8 million. Uzavtosanoat obtained a 49 per cent stake in the authorised capital of the enterprise and the Mercedes-Benz Buses Central Asia Company - a 51 per cent stake. The project cost is estimated at $31 million.